Veltex Corporation (VLXC): Explorer Headgear sales were 23 Million...

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Tuesday, 07/19/2005 2:19:28 PM

Tuesday, July 19, 2005 2:19:28 PM

Explorer Headgear sales were 23 Million in 2004.

Veltex Acquires Explorer (6/8/2005)

Veltex Apparel Co. (asi/93505) has acquired, in a total buyout, the promotional products division of Explorer Headgear, a Markham, Ontario, Canada-based manufacturer of headwear, including many national private-label brands (Tommy Hilfiger, Budweiser, Spaulding, etc.) Terms were not disclosed, but Explorer’s total sales were about $23 million in 2004. At present, there are no plans to relocate or change personnel at the firm. Javeed Martin, Veltex president and CEO, says, “Explorer is one of the three top headwear firms in Canada. It wanted a U.S. presence, and we wanted a Canadian presence, so it was a very good fit.”

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